NextGen Day

On Friday, the price of the BSP’s 28-day bill increased due to strong investor demand, which led to oversubscription.

According to information made public by the BSP, the average interest rate on the debt paper increased slightly during the auction last March 24 to 6.8199 percent from 6.7650 percent.

From PHP150 billion last week, the BSP reduced the offer volume to PHP130 billion. After bids reached PHP154.207 billion, the auction committee made a full award.

The yields accepted in this week’s 28-day securities auction “narrowed to a range of 6.6750-6.9500 percent” from last week’s 6.6620-7.0000 percent, according to a statement from BSP Vice Governor Francisco Dakila Jr.

In anticipation of the Holy Week holidays, he stated, “the results of the BSP bill auction reflected eligible participants’ demand for BSP securities and liquidity preferences.”

Regular holidays are observed on April 6 and 7, Holy Week, and April 10, Araw ng Kagitingan (Day of Valor).

In order to provide Filipinos the opportunity to take advantage of a long weekend, the later holiday, which is usually celebrated on April 9, has been declared a non-working holiday for the day after it falls on a Sunday this year.

In the future, Dakila continued, “the BSP’s monetary operations will continue to be informed by its appraisal of the current liquidity conditions and market developments.”

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